Tackling Financial Crime – AML Remediation for an investment management firm

The challenge

Our client a well-known Investment Management firm had utilised a range of resource providers and professional services firms historically to resolve regulatory issues with mixed results.

We were tasked with providing 20 AML experts at different levels of experience and expertise. The challenge given to us was exacerbated by quite extreme timeframes to mobilise. We agreed to use video interviewing and project management tools to fast-track the process which they agreed to. This for them was a new way of working.

The solution

We delivered a team that constituted of 12 file reviewers, a PM team and QA function. They quickly focused on planning and executing on a 3000-file review oversighted by a professional services advisor. The team was a neat blend of experienced SMEs and highly competent junior resource. This balanced both the team and the budget for the work.

 

The outcome

• We were operational from the first brief; the team starting in a little over 2 weeks. This included creating the team, vetting to our clients’ own standards and onboarding them for day one.
• The speed of delivery and the complexity of the work created challenges, but we carried out daily reviews with all the stakeholders and ironed out any wrinkles each evening with the team.
• The result was that we had a successful project, a very happy client, a happy professional services firm and a great reference site. The evidence has been that we are now the sole provider for this work.